The concept of the Internet of Things (IoT) is gaining ground. Consumers and businesses alike want their products and services connected; they want ease-of-use, efficiency and mobile access that allows them to further streamline everything they do into a single smartphone. It’s an exciting time and one that demands attention to software licensing.
In this space, it’s essential that IoT does more than just deliver value; it has to create new profit opportunities. This concept was explored in a recent blog post by software licensing solution provider, Flexera Software. And while driving profits is a key focus, it’s also not an easy task. Manufacturers that want to offer IoT through hardware, software and other connected services will be charged with developing business models that make sense in a new era.
To address some of these challenges and explore the business models and software licensing opportunities and obstacles, IoT Now and Flexera Software developed a new report. In this new publication, the two companies examine monetization strategies and use cases, while also providing guidance to manufacturers on what they must get right from day one if they hope to generate real profits and long-term viability in this space.
The questions explored in this report include why traditional device manufacturers are transitioning to IoT offerings and the main business considerations that they must remember. It will also explore how a software monetization platform can help drive IoT success and the main components involved with the strategy. There is much to be learned by examining the pathways of others, both failures and successes, as well as missed opportunities.
The use cases that exist today point to new opportunities to explore and help to generate new questions on the potential that is yet untapped. The report also examines security considerations in an IoT world, a concept that has a lot of companies sitting on the sidelines, waiting to see if it’s safe to enter the playing field or not.
Finally, manufacturers can also learn from the suggested questions they can as they make the transition from hardware to software, services and IoT offerings. This is still an area of significant unknowns for those who have yet to walk the path, begging a deeper investigation into the possibilities and forcing the tough questions to sort out the details.
It’s a complex puzzle to make the transition to IoT, but not one that has to be done blindly. Download this informative report today and learn how software licensing benefits don’t have to stop in an era where everything is going to be connected.
Edited by Maurice Nagle